Skip to main content
NTv Online

Business

Business
  • Budget
  • Economy
  • Industry
  • Markets
  • More
  • Service
  • Tech
  • Bangla Version
  • Archive
  • Bangladesh
  • World
  • Sports
  • Entertainment
  • Business
  • Comment
  • Education
  • Life
  • Health
  • Art & Culture
  • Election
  • বাংলা
  • Bangladesh
  • World
  • Sports
  • Entertainment
  • Business
  • Comment
  • Education
  • Life
  • Health
  • Art & Culture
  • Election
  • বাংলা
  • Bangla Version
  • Archive
Follow
  • Business
  • Industry
IANS
16 May, 2015, 13:44
Update: 16 May, 2015, 13:44
More News
Coronavirus: BWAB makes appeal to PM
Qbistro opens new outlet in Dhaka
Syngenta Bangladesh declares 15pc dividend
bKash partners with Visa to offer wallet load facility through cards
Rubana Huq set to be first BGMEA president

US lawsuit puts generic drug imports from India under scanner

IANS
16 May, 2015, 13:44
Update: 16 May, 2015, 13:44

Washington: A US class action lawsuit accusing India's Ranbaxy of large-scale deception on its generic drug applications puts a question mark on drug imports from India, the largest supplier of generic drugs to the US.

The problem of lack of compliance with US Food and Drug Administration (FDA) guidance and gaps in protocol make it difficult to buy generics from pharma companies in India, which supply at least 40 percent of all generics in the US, according to biopharmadive.com.

The latest class action lawsuit against Ranbaxy, recently purchased by Sun Pharma in a $3.2 billion deal, was filed by US retailer Meijer in district court in Massachusetts.

It seeks damages and monetary relief on behalf of all direct purchasers of drugs in cases where cheaper generics were not able to be introduced due to Ranbaxy securing the approvals under allegedly dubious premises.

The six-month period of exclusivity that comes with such approvals effectively shut other companies out of the market.

In 2013, Ranbaxy faced civil and criminal fines of $500 million in a settlement with the US related to claims that it sold substandard drugs and also made false statements to the FDA about its adherence to quality-control standards at its manufacturing plants, biopharmadive recalled.

In addition, Ranbaxy has been subjected to wider scrutiny and oversight from the FDA, which has resulted in a US import ban on all Ranbaxy drugs.

Also, in November 2014, the FDA stripped Ranbaxy of a tentative approval of generic Valcyte, dating back to 2008, it said.

Most Read
  1. Go back to work, BGMEA requests garment workers
  2. As Trump pulls out of Iran deal, Asia grapples with impact on oil supplies
  3. Bangladesh’s second tea auction centre in Moulvibazar
  4. BBML signs loan agreement with DEG for USD 15M
  5. Alibaba’s Singles’ Day fest sale hits $25bn
  6. First-ever leather product show kicks off Nov 16
Most Read
  1. Go back to work, BGMEA requests garment workers
  2. As Trump pulls out of Iran deal, Asia grapples with impact on oil supplies
  3. Bangladesh’s second tea auction centre in Moulvibazar
  4. BBML signs loan agreement with DEG for USD 15M
  5. Alibaba’s Singles’ Day fest sale hits $25bn
  6. First-ever leather product show kicks off Nov 16

Follow Us

Alhaj Mohammad Mosaddak Ali

Chairman & Managing Director

NTV Online, BSEC Building (Level-8), 102 Kazi Nazrul Islam Avenue, Karwan Bazar, Dhaka-1215 Telephone: +880255012281 up to 5, Fax: +880255012286 up to 7

Browse by Category

  • About NTV
  • NTV Programmes
  • Advertisement
  • Web Mail
  • NTV FTV
  • Satellite Downlink
  • Europe Subscription
  • USA Subscription
  • Privacy Policy
  • Terms & Conditions
  • Contact

Our Newsletter

To stay on top of the ever-changing world of business, subscribe now to our newsletters.

* We hate spam as much as you do

Alhaj Mohammad Mosaddak Ali

Chairman & Managing Director

NTV Online, BSEC Building (Level-8), 102 Kazi Nazrul Islam Avenue, Karwan Bazar, Dhaka-1215 Telephone: +880255012281 up to 5, Fax: +880255012286 up to 7

Reproduction of any content, news or article published on this website is strictly prohibited. All rights reserved